Month: January 2024

PHILADELPHIA, Jan. 31, 2024 (GLOBE NEWSWIRE) — Brandywine Realty Trust (NYSE:BDN) today reported its financial and operating results for the three and twelve-month periods ended December 31, 2023. Management Comments “We accomplished or exceeded many of our 2023 business plan objectives including our same store results and rental rate mark-to-markets,” stated Jerry Sweeney, President and Chief Executive Officer of Brandywine Realty Trust.  “In addition to our operating metrics, we were able to contain our capital costs resulting in lower capital costs as a percentage of new lease revenue and better than forecasted cash flow.  Our liquidity position is in excellent shape with no borrowings on our $600 million unsecured line of credit and 96% of our wholly-owned debt is fixed. Other than our October 2024 bond maturity, we have no...

Except where otherwise noted, all currency amounts are stated in United States dollars.Net income attributable to Methanex shareholders of $33 million and Adjusted EBITDA of $148 million in the fourth quarter. The average realized price in the fourth quarter was $322 per tonne compared to $303 per tonne in the third quarter of 2023. Full year 2023 net income attributable to Methanex shareholders of $174 million and Adjusted EBITDA of $622 million. Fourth quarter production was higher compared to the third quarter due to higher production in Chile, New Zealand, Geismar and Medicine Hat, which was partially offset by lower production in Egypt. The 1.8 million tonne methanol plant, Geismar 3 (“G3”), is in the process of starting up and we expect that commercial production is imminent. The plant is expected to ramp up to full...

DUNKIRK, N.Y., Jan. 31, 2024 (GLOBE NEWSWIRE) — Lake Shore Bancorp, Inc. (the “Company”) (NASDAQ: LSBK), the holding company for Lake Shore Savings Bank (the “Bank”), reported unaudited net income of $749,000, or $0.13 per diluted share, for the fourth quarter of 2023 compared to net income of $1.2 million, or $0.20 per diluted share, for the fourth quarter of 2022. For the year ended December 31, 2023, the Company reported unaudited net income of $4.8 million, or $0.82 per diluted share, as compared to $5.7 million, or $0.97 per diluted share, for the year ended December 31, 2022. The Company’s 2023 financial performance was negatively impacted by the Office of the Comptroller of the Currency’s (the “OCC”) regulatory action of February 2023 resulting in increased non-interest expense. “Lake Shore’s...

HAMPSTEAD, Md., Jan. 31, 2024 (GLOBE NEWSWIRE) — Farmers and Merchants Bancshares, Inc. (the “Company”), the parent of Farmers and Merchants Bank (the “Bank”), announced that net income for the year ended December 31, 2023 was $6,418,337, or $2.08 per common share (basic and diluted), compared to $8,090,127, or $2.66 per common share (basic and diluted), for the same period in 2022. The Company’s return on average equity during the year ended December 31, 2023 was 13.08% compared to 16.03% for the same period in 2022. The Company’s return on average assets during the year ended December 31, 2023 was 0.86% compared to 1.13% for the same period in 2022. Net income for the three months ended December 31, 2023 was $1,415,230, or $0.46 per common share (basic and diluted), compared to $2,014,282, or $0.66 per common share (basic and...

Consolidated Sales of $156.7 million compared to $139.1 million the prior year Net Income of $5.6 million represents a 25% increase over prior year EPS of $0.15 compared to $0.12 last year EBITDA of $18.1 million compared to $15.2 million the prior year quarter Quarterly dividend of $0.105 per common share to be paid March 28, 2024TORONTO, Jan. 31, 2024 (GLOBE NEWSWIRE) — Exco Technologies Limited (TSX-XTC) today announced results for its first quarter ended December 31, 2023. In addition, Exco announced a quarterly dividend of $0.105 per common share which will be paid on March 28, 2024 to shareholders of record on March 14, 2024. The dividend is an “eligible dividend” in accordance with the Income Tax Act of Canada.  Three Months EndedDecember 31(in $ thousands except per share amounts)          2023       2022  Sales $ 156,710     $ 139,093  Net...

Record Revenues Driving Strong Earnings Growth AUSTIN, Texas, Jan. 31, 2024 (GLOBE NEWSWIRE) — EZCORP, Inc. (NASDAQ: EZPW), a leading provider of pawn transactions in the United States and Latin America, today announced results for its first quarter ended December 31, 2023. Unless otherwise noted, all amounts in this release are in conformity with U.S. generally accepted accounting principles (“GAAP”) and comparisons shown are to the same period in the prior year. FIRST QUARTER HIGHLIGHTSNet income increased to $28.5 million, an increase of $11.7 million, or 70%. On an adjusted basis1, net income increased $6.6 million or 30%. Diluted earnings per share of $0.36, up from $0.25. On an adjusted basis, diluted earnings per share of $0.36, compared to $0.28. Total revenues and gross profit increased 13%. Merchandise sales gross margin...

60% year-over-year increase in sales orders and home closing gross margin of 25.2% SCOTTSDALE, Ariz., Jan. 31, 2024 (GLOBE NEWSWIRE) — Meritage Homes Corporation (NYSE: MTH), a leading U.S. homebuilder, today announced fourth quarter and full year results for the periods ended December 31, 2023.Summary Operating Results (unaudited)(Dollars in thousands, except per share amounts)   Three Months Ended December 31,   Twelve Months Ended December 31,  2023   2022   % Chg   2023   2022   % ChgHomes closed (units)   3,951       4,540     (13 )%     13,976       14,106     (1 )%Home closing revenue $ 1,641,523     $ 1,984,063     (17 )%   $ 6,056,784     $ 6,207,498     (2 )%Average sales price – closings $ 415     $ 437     (5 )%   $ 433     $ 440     (2 )%Home orders (units)   2,892       1,808     60  %     13,193       11,759     12  %Home...

FAIRFIELD, N.J., Jan. 31, 2024 (GLOBE NEWSWIRE) — Kearny Financial Corp. (NASDAQ GS: KRNY) (the “Company”), the holding company of Kearny Bank (the “Bank”), revised the Company’s earnings release for the quarter ended December 31, 2023 (the “Revised Earnings Release”), which was issued on January 25, 2024 (the “Original Earnings Release”), to adjust the timing of income recognition associated with a $4.8 million non-recurring increase in cash surrender value (the “enhancement fee”) associated with restructuring of its Bank-Owned Life Insurance (“BOLI”) portfolio that was originally recognized as non-interest income during the quarter. During the quarter ended December 31, 2023, the Company recorded a $4.8 million non-recurring increase in BOLI cash surrender value and recognized the enhancement fee within non-interest income. Subsequent...